Carbon Capture and Transformation (CCT) company LanzaTech NZ Inc has agreed to go public through a merger with a special purpose acquisition company (SPAC) sponsored by an affiliate of the AMCI group. Under the terms of the agreement, the combined company will get USD 275 million in gross proceeds, including AMCI's USD 150 million of cash held in trust and some USD 125 million committed as part of a private investment in public equity (PIPE). The PIPE will include investments at USD 10.00 per share from AMCI, ArcelorMittal, BASF, K1W1, Khosla Ventures, Mitsui & Co Ltd, New Zealand Superannuation Fund, Oxy Low Carbon Ventures LLC, Primetals Technologies, SHV Energy and Trafigura.
This article was originally published by Renewables Now on the 9 March 2022.
Read the full article: https://renewablesnow.com/news/carbon-transformation-specialist-lanzatech-to-go-public-via-spac-merger-776276/